VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2010) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES RESIDENTS
Functional Technologies Corp. (TSX VENTURE:FEB) reports that the non-brokered private placement announced in its news release of December 3, 2010 has been increased to 7,275,000 units for gross proceeds of approximately $4,000,000, subject to TSX Venture Exchange approval.
The company also reports the resignation of Don Lay as an officer of the company. The company thanks Mr. Lay for the services he provided and wishes him well in his future endeavours.
About Functional Technologies Corp.
Functional Technologies Corp. develops and commercializes proprietary technologies that enhance the natural properties of yeast and algae — nature's microscopic workhorses. Our scientists apply novel techniques to these micro-celled organisms to resolve significant health and quality problems, and generate new opportunities in the global food, beverage and healthcare industries. Our first commercial products are our Phyterra™ line of proprietary yeast strains, designed to reduce the formation of foul-smelling hydrogen sulfide and the carcinogen urethane in wines and other fermented products. With a head office in Vancouver, Functional Technologies Corp. has R&D facilities in Prince Edward Island and a U.S. sales office in Napa Valley, California. For more information, please visit www.functionaltechcorp.com.
ON BEHALF OF THE BOARD
Howard Louie, Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.